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obligations within thirty (30) days, or the additional time as is reasonably required to correct any <br />default, after notice by Lessee to Lessor properly specifying Lessor’s failure to perform any the <br />obligation. <br /> <br /> <br />ARTICLE 13: Arbitration <br /> 13.1 ARBITRATION PROCESS: Should any grievance or dispute other than a default <br />on a monetary term arise between Lessor and Lessee concerning the terms of this Lease that <br />cannot be resolved by normal interaction, the following arbitration procedure will be used. <br /> Lessor or Lessee will give written notice to the other of its selection of a disinterested <br />arbitrator. Within fifteen (15) days of the receipt of this written notice, the other party may give <br />written notice to the first party appointing a disinterested arbitrator of its own choice. These two <br />arbitrators will select a third arbitrator. If the other party fails to name an arbitrator within 15 <br />days of receiving the notice from the first party, the arbitrator selected by the first party will be <br />the sole arbitrator. <br /> <br /> The arbitrator or arbitrators will hold a hearing within thirty (30) days after the initial <br />written notice by the initiator of the arbitration process. At the hearing Lessor and Lessee will <br />have an opportunity to present evidence and question witnesses in the presence of each other. As <br />soon as reasonably possible, and in no event later than fifteen (15) days after the hearing, the <br />arbitration panel will make a written report to the Lessor and Lessee of its findings and <br />decisions, including a personal statement by each arbitrator of his/her decision and the reasons <br />for it. The arbitrators will decide the dispute or claim in accordance with the substantive law of <br />North Carolina and what is just and equitable under the circumstances. The decision and award <br />of the majority of the arbitration panel will be binding and final. Lessor and Lessee will share <br />the costs of arbitration equally. <br /> <br />ARTICLE 14: General Provisions <br /> 14.1 LESSEE’S MEMBERSHIP IN CHT: The Lessee under this Lease will <br />automatically be a regular voting member of the CHT. <br /> <br /> 14.2 NOTICES: Whenever this Lease requires either party to give notice to the other, the <br />notice will be given in writing and delivered in person or mailed, by certified or registered mail, <br />return receipt requested, to the party at the address set forth below, or the other address <br />designated by like written notice: <br /> <br /> If to Lessor: Community Home Trust, President <br /> PO Box 307 <br /> Carrboro, NC 27510 <br /> <br />With copies to: David M. Rooks, III <br /> PO Box 2208 <br /> Chapel Hill, NC 27515-2208 <br /> <br />DocuSign Envelope ID: 1C608BEC-B713-4BE4-9E53-CD92D598627F